Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Write It Right The First Time - Or It May Result In Failure! - Part 12

The "standard" Residential Resale Real Estate Purchase Contract used in Arizona and provided by the Arizona Association of REALTORS® (AAR) is a document that both Buyers and Sellers should familiarize themselves with prior to the time where they are signing off on it.

 

A complete sample copy is publicly available on the AAR website at this link.

 

This post focuses on the rest of page 9 which covers "Additional Terms and Conditions", identifies the Buyer's Agent and Broker, and is where the Buyer will sign the offer.

 

This is the final "Part" of this series on the "Purchase Contract".  We will cover the various forms and addenda that typically accompany the purchase offer.

 

 

Lines 410-418 and 421-424 Are straightforward "fill in the blanks".

 

Lines 419-420 Are CRITICAL.  If you are going to send a Counter Offer to the Buyer, make sure this box is checked - otherwise - there could be a debate that the original offer, signed by Buyer(s) and Seller(s) stands as is!

 

Line 425 It's good practice to dot the "i"s and cross the "t"s when the Seller rejects an offer - for both the Listing Broker file and the Buyer Broker file.  If the Seller rejects the offer, have them confirm that rejection in writing. 

 

The first eleven posts in this series are available at the following links:

 

Write It Right The First Time - Or It May Result In Failure! 

 

Write It Right The First Time - Or It May Result In Failure! - Part 2

 

Write It Right The First Time - Or It May Result In Failure! - Part 3

 

Write It Right The First Time - Or It May Result In Failure! - Part 4

 

Write It Right The First Time - Or It May Result In Failure! - Part 5

 

Write It Right The First Time - Or It May Result In Failure! - Part 6

 

Write It Right The First Time - Or It May Result In Failure! - Part 7

 

Write It Right The First Time - Or It May Result In Failure! - Part 8

 

Write It Right The First Time - Or It May Result In Failure! - Part 9

 

Write It Right The First Time - Or It May Result In Failure! - Part 10

 

Write It Right The First Time - Or It May Result In Failure! - Part 11

 

 

To read the next post in this series, click the link below, as we delve into the Pre-Qualification Form:

 

Write It Right The First Time - Other Forms and Addenda - Part 1

 

 

 

 

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About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

Great series of  contract posts you two!

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) almost 3 years ago

Love the series!  This is a must read for every new or newer agent.

Posted by Kerry Lucasse, Your Nest Atlanta Real Estate Consultant (eXp Realty - Nest Atlanta Team) almost 3 years ago

Thanks Anna Banana Kruchten - coming from you that means a lot!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

Thanks for the kind words Kerry Lucasse !

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

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